Stock market today: Five stocks to buy or sell on Wednesday, January 15, 2025; trade setup for Nifty 50 to Q3 results today
Stock Market Today: Following a sharp decline in the previous session, the markets took a break on Tuesday, as the benchmark Nifty 50 Index ended the day 0.39% higher at 23,176.05. Additionally, the S&P BSE index increased by 0.22% to close at 76,499.63. While auto, metals, and energy all saw gains of up to 4%, the Bank Nifty recovered by 1.43%. The FMCG index and IT were remained among the losers. Additionally, broader indices recovered, with the mid- and small-cap indices both rising by about 2.5 percent.
Wednesday's Trade Setup
The short-term trend of the Nifty 50 Index has likely changed. A violation of the current high of 23,265 would, however, confirm a further increase. The Nifty faces resistance between 23,340 and 23,500. According to Vinay Rajani, Senior Technical & Derivative Research Analyst at HDFC Securities, 23,047 is the short-term base on the downside.
Support for the Bank Nifty is situated close to the 47,300 mark. However, traders are encouraged to employ a sell-on-rise strategy as long as the Bank Nifty stays below the 49,900 levels.
International Markets, Q3 Findings, and 2025 Budget
With GDP growth predicted to drop to 6.4% in FY25—the lowest rate in four years—the Union Budget will be unveiled at a pivotal time. To promote growth and draw in steady FII inflows, policymakers will need to put strategic measures into place. According to Vikram Kasat, Head of Advisory at Prabhudas Lilladher, these inflows will be contingent upon clarity regarding fiscal aims, capital investment plans, and middle-class tax relief in the upcoming months.
Stocks to purchase today
Choice Broking Executive Director Sumeet Bagadia has suggested two stocks for today. Three stocks have been recommended by Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi.
The first stock recommendation from Sumeet Bagadia for today is Maruti Suzuki India Ltd. Bagadia suggests purchasing the company at ₹11,741.15, with a stop loss of ₹11,330, with a target price of ₹12,563.
At ₹11,741.15, Maruti is presently showing significant bullish momentum. Since September 2024, the stock has been under a lot of selling pressure. It reversed from its support zone at ₹10,700 and consolidated for a few days. Recently, it successfully broke out on the daily chart after forming a pole-and-flag pattern. The optimistic view for the stock is further strengthened by this breakout, which was aided by consistent trading volume.
2. For a target price of ₹615, Bagadia suggests purchasing AU Small Finance Bank Ltd. at ₹575.1 with a stop loss at ₹555.
On the daily chart, AU Bank is currently trading at ₹575.10 and looks ready for a possible breakout from its consolidation area. The stock's bullish view is further reinforced by a consistent rise in trading volumes, which supports the expected breakthrough. AUBANK may experience a notable upward advance, aiming for ₹615 if it maintains above the crucial resistance level of ₹590.
Stocks of Ganesh Dongre to purchase now
3. Indus Towers Ltd.: Dongre suggests purchasing Indus Towers at approximately Rs. 340, with a stop loss at Rs. 325 and a target of Rs. 360.
A bullish reversal pattern suggests a possible short-term upswing, with a regression to Rs. 360 for the stock most likely. In the event that the stock does not move in the expected direction, the critical support around Rs. 325 offers a stable level to limit risk.
4. Dongre suggests purchasing PB Fintech Ltd. (POLICYBZR) at approximately ₹1,740 with a stop loss of ₹1,700 with a target price of ₹1,800.
A noteworthy bullish reversal pattern is highlighted in the stock's most recent analysis, suggesting that there may be a brief retreat toward Rs. 1,800. The stock is now holding steady at Rs. 1700, a critical support level that provides a strong basis for a possible recovery.
A favorable chance for traders to contemplate a long position is indicated by this technical scenario. Traders can successfully minimize downside risk while aiming for a possible upside to Rs. 1,800 by strategically establishing a stop loss at Rs. 1,700. This situation aligns with the short-term bullish forecast and offers an appealing risk-reward ratio.
5. Dongre suggests purchasing Dixon Technologies (India) Ltd. at ₹16,275 with a stop loss at ₹15,700 in order to reach the target price of ₹17,500.
The stock has displayed a bullish reversal pattern on the daily chart, centered around the 15,900 zone. Its importance is further supported by the fact that this level served as a breakout point in the previous quarter. At the same level, a short-term bullish engulfing pattern has developed, indicating a favorable outlook. With a target price range of 17,500 and a stop-loss of 15,500, traders might think about purchasing this stock.
Disclaimer: Mint does not endorse the opinions or suggestions expressed here; rather, they are the opinions of individual analysts or broking firms. Before making any financial decisions, we encourage investors to consult with qualified professionals.
The first stock recommendation from Sumeet Bagadia for today is Maruti Suzuki India Ltd. Bagadia suggests purchasing the company at ₹11,741.15, with a stop loss of ₹11,330, with a target price of ₹12,563.
At ₹11,741.15, Maruti is presently showing significant bullish momentum. Since September 2024, the stock has been under a lot of selling pressure. It reversed from its support zone at ₹10,700 and consolidated for a few days. Recently, it successfully broke out on the daily chart after forming a pole-and-flag pattern. The optimistic view for the stock is further strengthened by this breakout, which was aided by consistent trading volume.
2. For a target price of ₹615, Bagadia suggests purchasing AU Small Finance Bank Ltd. at ₹575.1 with a stop loss at ₹555.
On the daily chart, AU Bank is currently trading at ₹575.10 and looks ready for a possible breakout from its consolidation area. The stock's bullish view is further reinforced by a consistent rise in trading volumes, which supports the expected breakthrough. AUBANK may experience a notable upward advance, aiming for ₹615 if it maintains above the crucial resistance level of ₹590.
Stocks of Ganesh Dongre to purchase now
3. Indus Towers Ltd.: Dongre suggests purchasing Indus Towers at approximately Rs. 340, with a stop loss at Rs. 325 and a target of Rs. 360.
A bullish reversal pattern suggests a possible short-term upswing, with a regression to Rs. 360 for the stock most likely. In the event that the stock does not move in the expected direction, the critical support around Rs. 325 offers a stable level to limit risk.
4. Dongre suggests purchasing PB Fintech Ltd. (POLICYBZR) at approximately ₹1,740 with a stop loss of ₹1,700 with a target price of ₹1,800.
A noteworthy bullish reversal pattern is highlighted in the stock's most recent analysis, suggesting that there may be a brief retreat toward Rs. 1,800. The stock is now holding steady at Rs. 1700, a critical support level that provides a strong basis for a possible recovery.
A favorable chance for traders to contemplate a long position is indicated by this technical scenario. Traders can successfully minimize downside risk while aiming for a possible upside to Rs. 1,800 by strategically establishing a stop loss at Rs. 1,700. This situation aligns with the short-term bullish forecast and offers an appealing risk-reward ratio.
5. Dongre suggests purchasing Dixon Technologies (India) Ltd. at ₹16,275 with a stop loss at ₹15,700 in order to reach the target price of ₹17,500.
The stock has displayed a bullish reversal pattern on the daily chart, centered around the 15,900 zone. Its importance is further supported by the fact that this level served as a breakout point in the previous quarter. At the same level, a short-term bullish engulfing pattern has developed, indicating a favorable outlook. With a target price range of 17,500 and a stop-loss of 15,500, traders might think about purchasing this stock.
Disclaimer: Mint does not endorse the opinions or suggestions expressed here; rather, they are the opinions of individual analysts or broking firms. Before making any financial decisions, we encourage investors to consult with qualified professionals.
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